HI HB811

Establishes a temporary employment increase tax credit for employers in business during 2010 who increase both their number of covered employees and total wages paid by at least 10 percent in calendar years 2011 or 2012.

Calculates the credit as 10 percent of the wage increase between the applicable year and the immediately preceding calendar year, with a maximum annual credit of $50,000 per taxpayer.

Allows employers who acquire or succeed a business to include the predecessor's covered employees and wages from 2010-2012 when calculating their own employment and wage increases.

Permits unused credits to be carried forward to future taxable years and requires all credit claims to be filed within 12 months of the close of the applicable taxable year.

Repeals the provision on December 31, 2013, but allows taxpayers to continue claiming carryover credits in subsequent years in accordance with existing law.